TRUSTEES ANNUAL REPORT
MATCHBOX DAY NURSERY LIMITED 1 – 2 Butler House, Burdett House, London E14 7AB Company Registration Number: 4869234 Charity Registration Number: 1103781
DIRECTORS, MANAGERS & STAFF REPORT – April 2022 to March 2023
Charity Trustees
Rufus Clarke – Chairperson Alan Webb – Company Secretary Louise Traversi – Secretary Diane Aston – Trustee Kim Hogger – Trustee Beverly Webb - Trustee
Matchbox is a Community Nursery which opened in 2003 The nursery offers 98 full time equivalent places for children aged from 3 months to 5 years of age.
The 15-hour free entitlement provided by the government for 2, 3 and 4 year-olds is used by a high proportion of our parents. Additionally, the 30 hours free childcare is also used by a lot of eligible parents. This has increased year on year, since its introduction. We continue encourage parents to apply for this funding and will help as much as possible with the process.
Matchbox continues to be run by a Management Team who take care of the day to day running of the nursery and has a committee which is made up of interested people from the local area, who meet 4 times a year. There has been a change in the team this year, as one of our management team took retirement, but luckily for us decided to become a trustee. Which we welcome as she has a long knowledge of the running of the nursery and the local area.
Our staff team consists of Nursery Manager, 2 Deputy Managers/Early Years Teachers, Office Administrator, Room Leaders and Room Deputy’s and Childcare Practitioners. There is also a Cook, who provides daily cooked meals and a Domestic Assistant.
Our staff members have a variety of qualifications and experiences which all add up to the service we offer. We are committed to continuing the professional development of all our staff and all regularly attend training for CPD.
We also have a number of Apprentices; some nearing completing their childcare qualification and will continue with us a full time employed childcare practitioners and also some that will move onto other nurseries. Our Early Years Teachers supervise and support the students during their time at the nursery, with the support of staff within the rooms.
The nursery is open Monday to Friday 8.00am to 6.00pm throughout the year, excluding staff training days, Bank Holidays and 1 Week at Christmas.
We have seen many changes to the local area over the years. Most of the management team and trustees have been involved with not only this nursery but other settings/groups over the last 30 years around this area. This year we have again seen many changes to the area surrounding the nursery. There continues to be a high need for childcare places, mostly due to continued development. The result of this is that the nursery is very full with very little availability in all rooms.
This year has been difficult with rising costs of everything, which obviously puts pressure on our finances, but overall, we have had a good year in the nursery.
We are all very thankful for all the incredible hard work from all the staff and are amazed by the variety of activities that goes on to provide such a rich, diverse, and fun environment for all our children.
Our outside area continues to be used to the utmost. A lot of our time is spent outside exploring and learning. It continues to be a great success in all weathers. We also make a lot of use of our forest school area for the children from Red and Blue Rooms.
We continue to celebrate notable awareness raising days, such as World Book Day, Sports Relief and Children in Need, International Mud Day, Den Day. This year we have also added our own dress up days and theme days on a bigger scale: - super hero days, magic day, science day and many more.
We continue to have a good relationship with local schools, and some transition visits from local teachers have gone ahead this year, there continues to be a lot of information sharing around the children’s transition to school and this mixture seems to be working well.
We continue to support children with additional needs, and our staff have continued to be supported and trained by outside professionals, when needed. We would again like to thank all the staff involved in this, as well as the outreach teams and all other professionals involved in this.
The staff team have been consistent this year. We continue to have 28 room-based staff and our 2 Early Years Teachers who oversee the rooms and guide planning and observations of the children. We continue to work closely with the playgroup, staff really support each other.
We are all extremely proud of the achievements of everybody at the nursery and would like to thank them for the dedication and commitment that is required to deliver our service and that they have shown throughout the last few very difficult years.
Over the last 5 years we have worked with our landlord Poplar Harca on a project to open another nursery at Aberfeldy Village, an older estate that has been going through a major refurbishment programme. Given everything that has happened in the world over the last 5 years, the pandemic being just one of them and the extortionate rising cost of living it is a wonder that this project has continued. But this last year this has seen such massive progress in this scheme. That we are delighted to say that by September this year we hope to have the new nursery opening. It will be smaller than our current one, but we have received a lot of interest and have quite a number of children booked to start. We are in the process of registering with Ofsted so hopefully all with be ready for September opening.
I and the rest of the Committee and staff would like to thank everybody who has been involved in the smooth running of the Nursery and playgroup especially: -
Apprentices Students Poplar HARCA Children’s Community Nursing Team. Child Development Team
LBTH Early Education Service
R. Clarke Chairperson
Company Number: 4869234 Charity Number: 1103781 MATCHBOX DAY NURSERY LTD (a company limited by guarantee) FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2023
MATCHBOX DAY NURSERY LTD The Management Committee presents its report and independently examined finAiicial stgtements for the year ended 31 March 2023 Reference and Admillistration information Charity Name Maichbox Day Nursery Ltd Charity Registration Number 1103781 Company Registralion No 4869234 Registered Office and Operational address 1- 2 Butler House Biirdeii Road Londoii E14 7AB Management Conimittee Mi. R Clarke Ms L 'l'ravesi Ms K Hoggcr Ms D Aston Mi's B Webb Chair Treasurer S¢¢retary Mr A Webb S¢nlor Manag¢m¢nt Team Mrs K Arrowsmith MBE Ms L Semple-morris Mr R Wells Manager Deputy Manager Deputy Manager Indcpendent Examincr N Condron BA FCCA 77 Capri Road Croydon CRO 6LJ Bankers HSBC PIC 115 High Street, Sittingbourne, Kent, MEI 0 4AL
Structure, Governance and Management Governin Document The organisation is a charitable company limited by guarantee, incorporated on 18, August 2003 and registered as a charity on 17, May 2004. The company was ¢stablished under a Memorandum of Association which established the objects and powers of the charitable comp¢iny and is governed uiider ils Articles of Association In the event of the company being wound up meinber5 are required lo contribute an amount not exceeding £ I Reeruitinent and A ointment of Mana einenl Committee The directors of the company are also charity trustees for the purpose5 of charity law and under the company's Articles are kiiown as meinbers of tlie Manageinent Committee. Under the requirements or thc Memorandum ayjd ArticlL5 of A5SULi¢iliun ihc mLinbcrs of the Management Committee are elected annually and must be re-elected at the next Annual General Meeting. All Committee offer themselve5 for re-election Tlie Management Committee seeks to ensure that the needs of the nurs¢ry are appropriately reflected through divcrsity of thc truslces. To enhaiice the poleI1lial pool of li'ustees the charity actively encourages all nursery parents and user5 to b¢come Committee Members. ru ee Inducti n and Trainin Most IrLlStees are already familiar with the practical work of the cliarily. Additionally new trLlStees are iiiviled and en¢our&ged to attend training sessions. These are led by Tower Hamlets Early Years Scrvicc and Lovcr The obligalions ofmanagement Committee members The main documents which set out the operational framework for the charity in¢luding the Meincirandum and Articles Resourcing and the Current financial position as set out in the latest publish¢d accounts Future plans and objectives Risk Mana ement All appropriate risk assessinents are in place and are reviewed annually tion Ct The Matchbox Day Nursery has a Management Committee of up to 8 meinbers who meet regularly and are responsible for the strategic direction and policy of th¢ charity. Ai present the Committee ha5 5 members from a variety of backgrounds. The Se¢tary also sits on the Committee but has no voting rights. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Nursery Managers, They are responsible for Finance and Adminislration, Day to Day
operational management of the Nursery, individual supervision of the staff ieam and also ensuring that the team continue to develop their skills and working practices in line with good practice. Related Parties In so far as it is eomplimentsry lo the ¢harily's object5, the eharity is guided by both local and national policy. At nati()nal level childcare is steered by the len year childcare strategy. At local level the Nursery is part of the Children's C.entre which ii)cludes representatives from local authority, health and voluntary sector agencies. Obje¢tiv¢s and Activities The company's object and principal activities are to To provide good quality affordable childcare for local parents wishing io rctui'n to work andlor training To advance the education of children under statulory school age pi'imarily bul not exclusively in Poplar. London. Achievements and P¢rforman¢¢ The nursery had been well used again this year. We ensure we continue to fill places quickly when children move on. Many of our staff have Completed CPD training this year as well as all staff Completing Inandalory traiiiing. We also Continue lo support our appiti)tices, some who have now Completed tlieir Iraining and have becomc full limc cmployccs, some Inoved onto oilier settiiigs ond we Wish thcm cvcry succcss. We hav¢ more apprentic¢s starting later this ycar to slart. the process again. We also Continue to provide placements for studenls coinpleting their Early Years Teacher status. Financial Review The charity with the aid of sound financial managemenl and the sUPPOrt of its staff has generated a positive outLome for the period due to the making full use of places avdilable foi. future years thus generating additional income to enable future siisiainability and expansion next year, Reserves Polic The Management Cominittee has examined the charity's i'equirements for i'eserves iii light of main risks to the organisation. It has established that the iinrestricted funds not committed or invested in tangible assets held by the cliarity should aim lo be between 3 and 6 months of the expenditure. Plans for Future Periods The charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding. Plans are also continuing to develop working Schemes with local authority health and other voluntary sector organisations.
Res onsibilities of the Mana ement Committee Company law requires the Management Committee lo pr¢pare financial slatements for each financial year which give a true and fair view of the slate of the affairs of the charitable company as al the balance sheet date and of its incoming i'esources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, lh¢ management committee should follow best practice and Seleet suitable accounting policies and then apply them consistcntly. Make judgements and esliinales that are responsible and prudent and Prepare the financial statements on the going conc¢rn basis unless it 15 inappropriate to assuine thal. Ihe company will continue on thal basis The Management Committee is responsible for maintaining proper accounting records which disclose willi reasonable accuracy at aiiy time the financial po8ition of Ihe cliaritable ¢ompany and to enabl¢ them to ensure that the financial statements comply with the Companie8 Aci 2006. The Management Comniitlee is also responsible for safegu4rdiiig the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and otl)¢r irregularities Members of the Mana ement mmittee Members of the Management Coinmittee, who are directors for the purpose of company law and tru.stees for tlie purpose of charity law, who served during the year and up to dale of this report are as set out previously
MATCHBOX DAY NURSERY LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 DIRFCTORS RFSPONSIBILITIES Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company that period. In preparing those financial statements, the direclors are required to l. Select suitable accounting policies and then appjy Ihein consistently 2. Make judgeinenls and estiimates that are respoiisible aiid prudent 3. Prepare Ihe financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business The directors are reasonable for keeping proper accounting records which disclose with reasonabl¢ accuracy at any time ihe financial position of the company and to enable thcm to ensure tliai ihe financial slateinenls comply willi tl)e CoiMpanic8 ALt 2006. They are al80 responsible for safLgiuarding thc assets of thc company and h¢ncc for taking rcasonable stcps for the prevenlion aiid det¢ction of fraud and other irregularities. This report was approved by the Board of Directors on the 6 June 2023 and signed on their bchalf by:_ R. Clarke Director.
INDEPENDENT EXAMINERS REPORT Report to the trusteeslmembers of Matchbox Day Nursery Ltd On the accounts for th¢ year end¢d 31 March 2023 Set out on pages 9t017 Respective responsibi lilies of Trustees and examiner The ¢harily'S trustees are responsible for the preparation of the accounts. Thc charity's trustees Consider tliat an audit is not required for thi5 ye¢ir under seciion 144 of the Charities Act 2011 (The Charilies Act), as amcnded, and that an independent examiiiation is needed. It is my responsibility to,. Examine the a¢counts under section 145 of the Charitics Act, To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and To slate wheiher paiticular matters liave come to my attention Basis of independent examiner's Stalenient My exaininalion was carried out in accordance with general Directions given by the C'harity Conimission. An examination includes a review of The accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees con¢emin8 any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whethei. the accounts present a 'true and fair, view ar)d the report is limited to those matt¢rs set out in the statement below.
Independent examiner'5 Statement In connection with my examination, no matter has Come to Iny attention (l ) Which gives me reasonable cause to believe thai in, any Inaterial respect, the requirements: To keep accounting records in accordance with section 130 of the Charities Act. To prepare accounts which accord wilh the accounting records and comply with the accounting requii'einenis of the Charities Act have not been met. or (2) To which, in my opinion, attention should be di'awi) in order to enable a proper understanding of the accounts to be reached. Signed: d .&a-rt- N Condron BA FCCA Chartered Certified Accountant, 77 Capri Road Croydon CRO 6LJ 6 June 2023
MATCHBOX DAY NURSERY LTD INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2023 2023 2022 Income Expenditure 997150 1003145 991159 1064834 Deficiency 5995 73675
MATCHBOX DAY NURSF RY LTD BALANCE SIIEI ET AS AT 31 MARCIE 2023 2023 2022 FIXED ASSETS Tangible 426345 414517 CURRENT ASSETS Debtors Bank And Cash 9249 326810 05 16214 334632 350846 CUK]IENT LIABILITIES Creditors Amounts Falling Dlie Wiihin one year 9500 326559 752904 344382 758899 FLfNDS Designated Reslricted Unrestricted 752904 75 (a) For the period ending 31, March 2023 th¢ Company is cnliiled lo the exemption uiider Section 477(2) of the Companies Aci 2006 relating to (he small Companies regime. (b) Th¢ membcrs hav¢ nol reqiiired the company to obiain an audit in accordance with section 476 of the Companies Act 2006. (c) The directors acknowledgc their responsibilities for.. l. Ensuring that the company kLcps accouiiting records which comply with Section 386. and I l.Preparing accounts which gives a true and fair view of the state of affairs of IliL Lompany as at thL end of Ihc financial year and of its profits or loss for the financial year, in accordance with the reqiiirements of Section 393, and which otherwise colpIY with the requircments ofthe Coinpanies Act relating to accounts, so far as applicable to the company. (d) The accounts have been prepared in accordance with the provisions applicable to companies subjeet to the small companies regime. Approved by the board And signed on their behalf by.. R. Clarke Director 6 June 2023 10
MATCHBOX DAY NURSERY LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 2023 Total 2022 Total Designated Restricted Unrestricted Incoming Resources Iiicoming Resources for Acquisition of fixed assets - Revenue CJrants Other Income Iiisui'ance Care I. irst Apprenticeship CJRS Furlough Bank Interest I'oial Incoming Resources 995889 995889 986123 5000 1261 997150 1261 36 991159 Rcsourees Expend¢d Management Adininistration Surplus/(Dcfici¢ncy) 1003145 (5995) 1003145 (5995) 1064834 (73675) Fund Balances brought Forward al l April 2022 758899 Fund balances cai'ried Forward at 31 March 2023 752904
MATCHBOX DAY NURSERY LTD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 SCHEDULE OF INCOME Designated Restricted Unrestrieted Funds Funds Funds Total 2023 Total 2022 INCOME FEES LBTH-NEF LBTH- ELF LBTH -SF.N LBTH- Inclusion Funding LBTH - Growih LBTFI - EYPDP Donations 654834 240091 93295 654834 240091 93295 727384 178321 77874 800 1500 6912 641 116 6912 64 116 244 5889 98 12
MATCHBOX DAY NURSERY LTD NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 Accounting Policies Accounting conveiition Thc linancial slaleinents have been prepared under the historical cost convention, and in accordance with Ihc financi¢il Stand(Ird for Smaller Enlilies (eflective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. Incoming resource5 All incoming resources are included in he Statement of Financial Activities when the charity is legally Entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is a¢¢ounled for on an accruals basis and has been classified under headings that aggregate all cost related to the category when costs cannot bc directly allributed to particular headings that have been allocated to activities on a basis consisten( with the use of resoui'ces. 13
MA TCHBOX DAY NURSERY L TD NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 Fixed assets and dcpreciation Tangible fixed assets are slated at Cost less depitciation DepreciatTon lias been provided at th¢ following rates in order to write the assets (less their expected residual value) over tl)cir cstiimatcd useful ecoi)oinic lives A r¢8ular annual review ofihe likelihood ofassel impairtn¢iit is ui)denaken Biiilding Refui'bishinent 5.0•/o reduciii¥ balai)ce Equipment 12.80/0 slraighi line it l Gr4Dts Th¢ board of trusle¢s consider that in order lo comply wilh ihe slal¢ment of Recommendation Practice for Aceounling and Reportinby issued by ilie Clidrity Coinmissioners for England aiid Wales {eff¢cliYc 2011) Cjrants ora capital nalur¢ given foi. spe¢ili¢ purposes and lully ulilized in Ili¢ furtlierance ot Ilie objects of tl)e charity should be credited to the fixed asscls fui)ds after ihe sums l)avc been pioperly ¢xpcndcd on tlie restricted purpose. The related asset is shown in the balan¢¢ sheet at the cost ol-a¢quisition or subsequent revaluation. The relaied assets Ire subject to restrictions by the grant making organizaiions on tlieir use and disposal and tliese restrictioins are noi¢d ii) th¢ fixed assets se¢tion of Ih¢g¢ a¢¢ounlS. The fixed assets fund so Created is treated as a resiricted fund. In so far as tl)is policy rclalcs to Governm¢ni grants then this is a depdrture from the staieineiit of Siaiidard Aceounting Praciice nuinber 4 in tsrder to comply with the statement Recoinmendution Practice for Accounting and Reporting iSSLied by lh¢ Charily Coinmis5ioners for England & Wales. Taxation As a registcred cliarity tlie company is exeinpi from income and corporation tax to the extent il)al its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company and is therefore in¢lud¢d in the relevant Gosl iii Ili¢ slaleni¢nl or rinancial activities. Land Structure Polic 'l-lie charity Inaii)tains a geiieral unrestricted fund which represents funds which are exFtndable at discretion of the trustees in furtherance of the objects of tlie cliarity. Such funds may be held in order to finance both working capital and capital investm¢nts, Restricted funds have be¢n provid¢d lo Ihe charity for particular purposes aiid it is the policy of the board of Trustees to carefully monitor the appli¢ation of those funds in accordance with the restrictions pla¢ed upon them There is no formal policy on allocation of funds to designated funds. There is fomial poli¢y of transfer between funds other than Ihat described under the Capithl Grants policy above. Any proposed transfer b¢tw¢¢n funds would be ¢onsidered on the particular circumstances. 14
GOVERNANCE COSTS Unrestrlcted ri unds Total Funds 2023 Total Funds 2022 Independent Examiner 1750 1750 1750 STAFF COSTS AND EMOLUMENTS Total staff ¢o$t5 were AS follows: 2023 2022 Salaries including NIC payments 84 46015 2023 2022 Pensions 278 P&rticulai'5 of employees: The averag¢ numb¢r of ¢inployccs during the years, calculated on the basis of full-time equivalenls, was as follows 2023 2022 No 37 38 No employees received remuneration of more tlian £60,000.00 during the year TRUSI'EES, REMUNERATION Ther¢ was no remun¢ration or ¢xpen5es paid to Trustees. 15
MATCHBOX DAY NURSERY LTD NOTES TO FINANCIAL STATEME4 NTS FOR THE YEAR ENDED 31 MARCH 2023 Tangible Fixed Assets Building Refurbishtnent Equipm¢nt Total Cost Additions Tolal 878010 218533 21969 240502 1096543 219 1118512 878010 DEPRECIATION Charge to date Charge for period Total 505039 176987 2141 9128 682026 513039 6921 NET BOOK VALUE 3110312023 3110312022 364971 372971 61374 41546 426345 414517 DEB'I'ORS 2023 2CI22 Parents Fee5 924 21 2023 2022 Bank & Cash Bank Cash 326707 103 326810 334544 88 334632 CREDITORS Amount Due Within one year Parents Fees Accruals 2023 2022 7750 1750 9500 4714 1750 6464 16
MATCHBOX DAY NURSERY LTD NOTES TO FINANCIAL STATEMENTS FOR THF YFAR ENDED 31 MARCH 2023 MANAGEMENT AND ADMINISTRATION (costs directly related to activity) 2023 2022 Staff Costs Pension Costs Rent, Rates Light & Heat Telephone Insurance Accountancy Baby & Food Shopping Clothing Consumables DBS Renewals Subscriptions Security Building Maintenance Legal Expenses General Expenses Depi'eciation 836114 25601 41247 5801 4241 1750 54673 846015 27896 39993 6025 3913 1750 45563 1487 37612 1124 4415 4932 1150 7130 2954 36415 1980 505 10141 1064834 5700 1711 10141 1003145 17
Company Number: 4869234 Charity Number: 1103781 MATCHBOX DAY NURSERY LTD (a company limited by guarantee) FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2023
MATCHBOX DAY NURSERY LTD The Management Committee presents its report and independently examined finAiicial stgtements for the year ended 31 March 2023 Reference and Admillistration information Charity Name Maichbox Day Nursery Ltd Charity Registration Number 1103781 Company Registralion No 4869234 Registered Office and Operational address 1- 2 Butler House Biirdeii Road Londoii E14 7AB Management Conimittee Mi. R Clarke Ms L 'l'ravesi Ms K Hoggcr Ms D Aston Mi's B Webb Chair Treasurer S¢¢retary Mr A Webb S¢nlor Manag¢m¢nt Team Mrs K Arrowsmith MBE Ms L Semple-morris Mr R Wells Manager Deputy Manager Deputy Manager Indcpendent Examincr N Condron BA FCCA 77 Capri Road Croydon CRO 6LJ Bankers HSBC PIC 115 High Street, Sittingbourne, Kent, MEI 0 4AL
Structure, Governance and Management Governin Document The organisation is a charitable company limited by guarantee, incorporated on 18, August 2003 and registered as a charity on 17, May 2004. The company was ¢stablished under a Memorandum of Association which established the objects and powers of the charitable comp¢iny and is governed uiider ils Articles of Association In the event of the company being wound up meinber5 are required lo contribute an amount not exceeding £ I Reeruitinent and A ointment of Mana einenl Committee The directors of the company are also charity trustees for the purpose5 of charity law and under the company's Articles are kiiown as meinbers of tlie Manageinent Committee. Under the requirements or thc Memorandum ayjd ArticlL5 of A5SULi¢iliun ihc mLinbcrs of the Management Committee are elected annually and must be re-elected at the next Annual General Meeting. All Committee offer themselve5 for re-election Tlie Management Committee seeks to ensure that the needs of the nurs¢ry are appropriately reflected through divcrsity of thc truslces. To enhaiice the poleI1lial pool of li'ustees the charity actively encourages all nursery parents and user5 to b¢come Committee Members. ru ee Inducti n and Trainin Most IrLlStees are already familiar with the practical work of the cliarily. Additionally new trLlStees are iiiviled and en¢our&ged to attend training sessions. These are led by Tower Hamlets Early Years Scrvicc and Lovcr The obligalions ofmanagement Committee members The main documents which set out the operational framework for the charity in¢luding the Meincirandum and Articles Resourcing and the Current financial position as set out in the latest publish¢d accounts Future plans and objectives Risk Mana ement All appropriate risk assessinents are in place and are reviewed annually tion Ct The Matchbox Day Nursery has a Management Committee of up to 8 meinbers who meet regularly and are responsible for the strategic direction and policy of th¢ charity. Ai present the Committee ha5 5 members from a variety of backgrounds. The Se¢tary also sits on the Committee but has no voting rights. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Nursery Managers, They are responsible for Finance and Adminislration, Day to Day
operational management of the Nursery, individual supervision of the staff ieam and also ensuring that the team continue to develop their skills and working practices in line with good practice. Related Parties In so far as it is eomplimentsry lo the ¢harily's object5, the eharity is guided by both local and national policy. At nati()nal level childcare is steered by the len year childcare strategy. At local level the Nursery is part of the Children's C.entre which ii)cludes representatives from local authority, health and voluntary sector agencies. Obje¢tiv¢s and Activities The company's object and principal activities are to To provide good quality affordable childcare for local parents wishing io rctui'n to work andlor training To advance the education of children under statulory school age pi'imarily bul not exclusively in Poplar. London. Achievements and P¢rforman¢¢ The nursery had been well used again this year. We ensure we continue to fill places quickly when children move on. Many of our staff have Completed CPD training this year as well as all staff Completing Inandalory traiiiing. We also Continue lo support our appiti)tices, some who have now Completed tlieir Iraining and have becomc full limc cmployccs, some Inoved onto oilier settiiigs ond we Wish thcm cvcry succcss. We hav¢ more apprentic¢s starting later this ycar to slart. the process again. We also Continue to provide placements for studenls coinpleting their Early Years Teacher status. Financial Review The charity with the aid of sound financial managemenl and the sUPPOrt of its staff has generated a positive outLome for the period due to the making full use of places avdilable foi. future years thus generating additional income to enable future siisiainability and expansion next year, Reserves Polic The Management Cominittee has examined the charity's i'equirements for i'eserves iii light of main risks to the organisation. It has established that the iinrestricted funds not committed or invested in tangible assets held by the cliarity should aim lo be between 3 and 6 months of the expenditure. Plans for Future Periods The charity plans to continue the activities outlined above in the forthcoming years subject to satisfactory funding. Plans are also continuing to develop working Schemes with local authority health and other voluntary sector organisations.
Res onsibilities of the Mana ement Committee Company law requires the Management Committee lo pr¢pare financial slatements for each financial year which give a true and fair view of the slate of the affairs of the charitable company as al the balance sheet date and of its incoming i'esources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, lh¢ management committee should follow best practice and Seleet suitable accounting policies and then apply them consistcntly. Make judgements and esliinales that are responsible and prudent and Prepare the financial statements on the going conc¢rn basis unless it 15 inappropriate to assuine thal. Ihe company will continue on thal basis The Management Committee is responsible for maintaining proper accounting records which disclose willi reasonable accuracy at aiiy time the financial po8ition of Ihe cliaritable ¢ompany and to enabl¢ them to ensure that the financial statements comply with the Companie8 Aci 2006. The Management Comniitlee is also responsible for safegu4rdiiig the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and otl)¢r irregularities Members of the Mana ement mmittee Members of the Management Coinmittee, who are directors for the purpose of company law and tru.stees for tlie purpose of charity law, who served during the year and up to dale of this report are as set out previously
MATCHBOX DAY NURSERY LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 DIRFCTORS RFSPONSIBILITIES Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company that period. In preparing those financial statements, the direclors are required to l. Select suitable accounting policies and then appjy Ihein consistently 2. Make judgeinenls and estiimates that are respoiisible aiid prudent 3. Prepare Ihe financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business The directors are reasonable for keeping proper accounting records which disclose with reasonabl¢ accuracy at any time ihe financial position of the company and to enable thcm to ensure tliai ihe financial slateinenls comply willi tl)e CoiMpanic8 ALt 2006. They are al80 responsible for safLgiuarding thc assets of thc company and h¢ncc for taking rcasonable stcps for the prevenlion aiid det¢ction of fraud and other irregularities. This report was approved by the Board of Directors on the 6 June 2023 and signed on their bchalf by:_ R. Clarke Director.
INDEPENDENT EXAMINERS REPORT Report to the trusteeslmembers of Matchbox Day Nursery Ltd On the accounts for th¢ year end¢d 31 March 2023 Set out on pages 9t017 Respective responsibi lilies of Trustees and examiner The ¢harily'S trustees are responsible for the preparation of the accounts. Thc charity's trustees Consider tliat an audit is not required for thi5 ye¢ir under seciion 144 of the Charities Act 2011 (The Charilies Act), as amcnded, and that an independent examiiiation is needed. It is my responsibility to,. Examine the a¢counts under section 145 of the Charitics Act, To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and To slate wheiher paiticular matters liave come to my attention Basis of independent examiner's Stalenient My exaininalion was carried out in accordance with general Directions given by the C'harity Conimission. An examination includes a review of The accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees con¢emin8 any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whethei. the accounts present a 'true and fair, view ar)d the report is limited to those matt¢rs set out in the statement below.
Independent examiner'5 Statement In connection with my examination, no matter has Come to Iny attention (l ) Which gives me reasonable cause to believe thai in, any Inaterial respect, the requirements: To keep accounting records in accordance with section 130 of the Charities Act. To prepare accounts which accord wilh the accounting records and comply with the accounting requii'einenis of the Charities Act have not been met. or (2) To which, in my opinion, attention should be di'awi) in order to enable a proper understanding of the accounts to be reached. Signed: d .&a-rt- N Condron BA FCCA Chartered Certified Accountant, 77 Capri Road Croydon CRO 6LJ 6 June 2023
MATCHBOX DAY NURSERY LTD INCOME AND EXPENDITURE ACCOUNT YEAR ENDED 31 MARCH 2023 2023 2022 Income Expenditure 997150 1003145 991159 1064834 Deficiency 5995 73675
MATCHBOX DAY NURSF RY LTD BALANCE SIIEI ET AS AT 31 MARCIE 2023 2023 2022 FIXED ASSETS Tangible 426345 414517 CURRENT ASSETS Debtors Bank And Cash 9249 326810 05 16214 334632 350846 CUK]IENT LIABILITIES Creditors Amounts Falling Dlie Wiihin one year 9500 326559 752904 344382 758899 FLfNDS Designated Reslricted Unrestricted 752904 75 (a) For the period ending 31, March 2023 th¢ Company is cnliiled lo the exemption uiider Section 477(2) of the Companies Aci 2006 relating to (he small Companies regime. (b) Th¢ membcrs hav¢ nol reqiiired the company to obiain an audit in accordance with section 476 of the Companies Act 2006. (c) The directors acknowledgc their responsibilities for.. l. Ensuring that the company kLcps accouiiting records which comply with Section 386. and I l.Preparing accounts which gives a true and fair view of the state of affairs of IliL Lompany as at thL end of Ihc financial year and of its profits or loss for the financial year, in accordance with the reqiiirements of Section 393, and which otherwise colpIY with the requircments ofthe Coinpanies Act relating to accounts, so far as applicable to the company. (d) The accounts have been prepared in accordance with the provisions applicable to companies subjeet to the small companies regime. Approved by the board And signed on their behalf by.. R. Clarke Director 6 June 2023 10
MATCHBOX DAY NURSERY LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 2023 Total 2022 Total Designated Restricted Unrestricted Incoming Resources Iiicoming Resources for Acquisition of fixed assets - Revenue CJrants Other Income Iiisui'ance Care I. irst Apprenticeship CJRS Furlough Bank Interest I'oial Incoming Resources 995889 995889 986123 5000 1261 997150 1261 36 991159 Rcsourees Expend¢d Management Adininistration Surplus/(Dcfici¢ncy) 1003145 (5995) 1003145 (5995) 1064834 (73675) Fund Balances brought Forward al l April 2022 758899 Fund balances cai'ried Forward at 31 March 2023 752904
MATCHBOX DAY NURSERY LTD NOTES TO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 SCHEDULE OF INCOME Designated Restricted Unrestrieted Funds Funds Funds Total 2023 Total 2022 INCOME FEES LBTH-NEF LBTH- ELF LBTH -SF.N LBTH- Inclusion Funding LBTH - Growih LBTFI - EYPDP Donations 654834 240091 93295 654834 240091 93295 727384 178321 77874 800 1500 6912 641 116 6912 64 116 244 5889 98 12
MATCHBOX DAY NURSERY LTD NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 Accounting Policies Accounting conveiition Thc linancial slaleinents have been prepared under the historical cost convention, and in accordance with Ihc financi¢il Stand(Ird for Smaller Enlilies (eflective April 2008), the Companies Act 2006 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities. Incoming resource5 All incoming resources are included in he Statement of Financial Activities when the charity is legally Entitled to the income and the amount can be quantified with reasonable accuracy. Resources expended Expenditure is a¢¢ounled for on an accruals basis and has been classified under headings that aggregate all cost related to the category when costs cannot bc directly allributed to particular headings that have been allocated to activities on a basis consisten( with the use of resoui'ces. 13
MA TCHBOX DAY NURSERY L TD NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 MARCH 2023 Fixed assets and dcpreciation Tangible fixed assets are slated at Cost less depitciation DepreciatTon lias been provided at th¢ following rates in order to write the assets (less their expected residual value) over tl)cir cstiimatcd useful ecoi)oinic lives A r¢8ular annual review ofihe likelihood ofassel impairtn¢iit is ui)denaken Biiilding Refui'bishinent 5.0•/o reduciii¥ balai)ce Equipment 12.80/0 slraighi line it l Gr4Dts Th¢ board of trusle¢s consider that in order lo comply wilh ihe slal¢ment of Recommendation Practice for Aceounling and Reportinby issued by ilie Clidrity Coinmissioners for England aiid Wales {eff¢cliYc 2011) Cjrants ora capital nalur¢ given foi. spe¢ili¢ purposes and lully ulilized in Ili¢ furtlierance ot Ilie objects of tl)e charity should be credited to the fixed asscls fui)ds after ihe sums l)avc been pioperly ¢xpcndcd on tlie restricted purpose. The related asset is shown in the balan¢¢ sheet at the cost ol-a¢quisition or subsequent revaluation. The relaied assets Ire subject to restrictions by the grant making organizaiions on tlieir use and disposal and tliese restrictioins are noi¢d ii) th¢ fixed assets se¢tion of Ih¢g¢ a¢¢ounlS. The fixed assets fund so Created is treated as a resiricted fund. In so far as tl)is policy rclalcs to Governm¢ni grants then this is a depdrture from the staieineiit of Siaiidard Aceounting Praciice nuinber 4 in tsrder to comply with the statement Recoinmendution Practice for Accounting and Reporting iSSLied by lh¢ Charily Coinmis5ioners for England & Wales. Taxation As a registcred cliarity tlie company is exeinpi from income and corporation tax to the extent il)al its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company and is therefore in¢lud¢d in the relevant Gosl iii Ili¢ slaleni¢nl or rinancial activities. Land Structure Polic 'l-lie charity Inaii)tains a geiieral unrestricted fund which represents funds which are exFtndable at discretion of the trustees in furtherance of the objects of tlie cliarity. Such funds may be held in order to finance both working capital and capital investm¢nts, Restricted funds have be¢n provid¢d lo Ihe charity for particular purposes aiid it is the policy of the board of Trustees to carefully monitor the appli¢ation of those funds in accordance with the restrictions pla¢ed upon them There is no formal policy on allocation of funds to designated funds. There is fomial poli¢y of transfer between funds other than Ihat described under the Capithl Grants policy above. Any proposed transfer b¢tw¢¢n funds would be ¢onsidered on the particular circumstances. 14
GOVERNANCE COSTS Unrestrlcted ri unds Total Funds 2023 Total Funds 2022 Independent Examiner 1750 1750 1750 STAFF COSTS AND EMOLUMENTS Total staff ¢o$t5 were AS follows: 2023 2022 Salaries including NIC payments 84 46015 2023 2022 Pensions 278 P&rticulai'5 of employees: The averag¢ numb¢r of ¢inployccs during the years, calculated on the basis of full-time equivalenls, was as follows 2023 2022 No 37 38 No employees received remuneration of more tlian £60,000.00 during the year TRUSI'EES, REMUNERATION Ther¢ was no remun¢ration or ¢xpen5es paid to Trustees. 15
MATCHBOX DAY NURSERY LTD NOTES TO FINANCIAL STATEME4 NTS FOR THE YEAR ENDED 31 MARCH 2023 Tangible Fixed Assets Building Refurbishtnent Equipm¢nt Total Cost Additions Tolal 878010 218533 21969 240502 1096543 219 1118512 878010 DEPRECIATION Charge to date Charge for period Total 505039 176987 2141 9128 682026 513039 6921 NET BOOK VALUE 3110312023 3110312022 364971 372971 61374 41546 426345 414517 DEB'I'ORS 2023 2CI22 Parents Fee5 924 21 2023 2022 Bank & Cash Bank Cash 326707 103 326810 334544 88 334632 CREDITORS Amount Due Within one year Parents Fees Accruals 2023 2022 7750 1750 9500 4714 1750 6464 16
MATCHBOX DAY NURSERY LTD NOTES TO FINANCIAL STATEMENTS FOR THF YFAR ENDED 31 MARCH 2023 MANAGEMENT AND ADMINISTRATION (costs directly related to activity) 2023 2022 Staff Costs Pension Costs Rent, Rates Light & Heat Telephone Insurance Accountancy Baby & Food Shopping Clothing Consumables DBS Renewals Subscriptions Security Building Maintenance Legal Expenses General Expenses Depi'eciation 836114 25601 41247 5801 4241 1750 54673 846015 27896 39993 6025 3913 1750 45563 1487 37612 1124 4415 4932 1150 7130 2954 36415 1980 505 10141 1064834 5700 1711 10141 1003145 17